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Oct 8, 2013
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raising the debt ceiling was never once seriously in doubt. yes, there are some stories in the past of people trying some stunts but did not work. but they never created a minute of doubt that the debt ceiling would be raised. including that stunt made by ted kennedy and walter mondale to attach campaign finance reform to another debt ceiling. what has happened many times over the years is that a debt ceiling increase has been included as a non-controversial and unnoticed item in a larger legislative vehicle. the debt ceiling was not forcing the big policy changes that might be in some of those bills. it was simply riding quietly along in the baggage compartment of those bills unseen by almost everyone. could be easily misled by the word amendment. can be almost indescribably complicated. it might look like the senate was unwilling to pass the debt ceiling without those amendments but in fact, probably most of the senators had no idea that the debt ceiling was the underlying vehicle, the chassis on which these amendments were sitting. a lot of
raising the debt ceiling was never once seriously in doubt. yes, there are some stories in the past of people trying some stunts but did not work. but they never created a minute of doubt that the debt ceiling would be raised. including that stunt made by ted kennedy and walter mondale to attach campaign finance reform to another debt ceiling. what has happened many times over the years is that a debt ceiling increase has been included as a non-controversial and unnoticed item in a larger...
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Oct 8, 2013
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does not vote to raise the debt ceiling. it's not just a question of prioritizing with the money still coming in. it will have an effect of the social security checks and interest rates on consumers. the president sounding the alarmed time analarmtime and ti. the president has said time-and-time again he has enough votes. >> there have enough votes to support a clean spending bill. are the votes still there? >> he is probably right, tony. i have to tell you after years of covering the house of representatives, when push comes to shove you don't know how far they will go. you can expect the fast majority of rum republicans will stay wih the conservative base and the speaker himself is staying with the conservative base and voting with the government the middle of the road the mo moderate republicans which way will they go when push comes to shove. many have come out saying they would vote for a such a thing and possibly pushing them over the threshold. >> libby casey has been in washington all morning. what is happening on th
does not vote to raise the debt ceiling. it's not just a question of prioritizing with the money still coming in. it will have an effect of the social security checks and interest rates on consumers. the president sounding the alarmed time analarmtime and ti. the president has said time-and-time again he has enough votes. >> there have enough votes to support a clean spending bill. are the votes still there? >> he is probably right, tony. i have to tell you after years of covering...
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Oct 17, 2013
10/13
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and raising the debt ceiling again in the middle of february. so we will be right back to have this discussion in just a few months. so, again, no real budget being passed in washington. the dysfunction continues, the vote in the house was 285-143. so you still have a majority of the republicans in the house voting against any kind of ideal. in the senate it was moreover women, almost everyone votes, almost all of the -- the majority of the republicans in the senate did vote for this bill. so the senate continues to be more moderate than the house on the republican side. but there is still some very serious divisions within the republican party and, again, no ability to cut a longer term deal that really deals with the deficit, with the debt with the real issues that face this country think president obama talked about this deal and he said that the american people had lost trust in washington. and there is little doubt about that. the wall street journal article that talked about the winners and losers in this whole debt and government shutdown
and raising the debt ceiling again in the middle of february. so we will be right back to have this discussion in just a few months. so, again, no real budget being passed in washington. the dysfunction continues, the vote in the house was 285-143. so you still have a majority of the republicans in the house voting against any kind of ideal. in the senate it was moreover women, almost everyone votes, almost all of the -- the majority of the republicans in the senate did vote for this bill. so...
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Oct 8, 2013
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>> america does have a debt problem, but at the same time not raising the debt ceiling is not the way to handle the debt problem. at this point we have to raise the debt ceiling to avoid a catastrophic economic event. >> could a debt default, we've been talking about it with jonathan betz. could a debt default be worse or as bad as the crisis of 2008? >> it could have global ramifications. >> how so? >> for example, we might lose the credibility with our creditors abroad, so they may not be willing to buy any u.s. debt. even the bonds that we have out there now might become due, and we won't be able to roll that over and get anybody to lend money to us any more. >> that brings us to the point of the chinese vice foreign minister fro and from japan, wht would the international ramifications of a default be? what would they be? >> for example, the value of the dollar would tumble. that would have huge impacts on everybody globally. the u.s. currency is still the global currency. this would effect everybodi' economy. but locally here in the u.s. it would definitely have an impact on advi
>> america does have a debt problem, but at the same time not raising the debt ceiling is not the way to handle the debt problem. at this point we have to raise the debt ceiling to avoid a catastrophic economic event. >> could a debt default, we've been talking about it with jonathan betz. could a debt default be worse or as bad as the crisis of 2008? >> it could have global ramifications. >> how so? >> for example, we might lose the credibility with our creditors...
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Oct 9, 2013
10/13
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he put forth his own bell to raise the debt ceiling. it's a -- it's pretty much doomed in the house. he says that the republicans fault. he said they keep changing the target. >> now the shut down is not the only crisis.. according to markt watch. if. we will come from the latest polling. 56 of americans say it will be a bad idea that the debt ceiling is not raised to 38%. it will be a good idea for the country. we have the economic chaos. it's up legitimate seniors that seen kwhrors not -- they will spepbs tpaoeu public anger about not raising the debt ceiling and pressure republicans even more. . >> we have new information for you on what has happenened here. let me move over so you can see the storm that we're talking about. the storm has upgradeed this hour of activity to a cyclone. a cyclone, typhoon, hurricane are all the same types of system. it just depends geographically what you're talking about. we're very concerned because it's a closed up area. it will make land fall somewhere and the new -- it is going to make land fall in
he put forth his own bell to raise the debt ceiling. it's a -- it's pretty much doomed in the house. he says that the republicans fault. he said they keep changing the target. >> now the shut down is not the only crisis.. according to markt watch. if. we will come from the latest polling. 56 of americans say it will be a bad idea that the debt ceiling is not raised to 38%. it will be a good idea for the country. we have the economic chaos. it's up legitimate seniors that seen kwhrors not...
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Oct 7, 2013
10/13
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he didn't vote for raising the debt ceiling. does that mean he's uncompromising. >> you look back stakes of the negotiation are radically different than they have been since 1981. >> actually, i don't think they are. but the deficit is radically different and radically higher than it has been. there's a cbo report just two weeks ago that said, look, if you don't address the long-term things this drop will be very temporary. you need to sit down talk about medicare, medicaid, social security, food stamps, farm programs. there's a lot of things in this. right now that's simply not happening. i don't think it's asking the president too much to sit down and talk. i mean, he is the commander in chief, the ceo of the largest executive organization in the world not even convening a discussion. >> is this a position republicans would be happy with if the tables were reversed, which is to say democrats and minority, a third of the government holding the country's economic rating -- >> by the way, it has been reversed. there were multiple
he didn't vote for raising the debt ceiling. does that mean he's uncompromising. >> you look back stakes of the negotiation are radically different than they have been since 1981. >> actually, i don't think they are. but the deficit is radically different and radically higher than it has been. there's a cbo report just two weeks ago that said, look, if you don't address the long-term things this drop will be very temporary. you need to sit down talk about medicare, medicaid, social...
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Oct 6, 2013
10/13
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to use the debt ceiling to default because he didn't want to raise the debt ceiling. you would think someone who made such a gross error in 2006 would sit down and negotiate, and the purpose is get more money and break the republicans. >> so is it on the democratic side? >> look, the whole problem with this is, i think, goes back to the 41 votes to repeal obama care. the republicans have had a recession with repeeling it, or at least an element within the republican party. we're now seeing that. that's how the shutdown crisis stts, with them wanting to defund, end obama care and get rid of it. that's why it's so hard for them to say they aren't responsible for the shutdown, and regardless of what negotiations there are or not, in the wake of all that momentum on obama care and republicans trying to stop it, they could turn into the grand oo party, obstruction and obsession with obama care, and that leads to fiscal assault. that could abe a problem. >> george, i want to bring you in, we have a little time left. there's been talk that the president and senate democrats,
to use the debt ceiling to default because he didn't want to raise the debt ceiling. you would think someone who made such a gross error in 2006 would sit down and negotiate, and the purpose is get more money and break the republicans. >> so is it on the democratic side? >> look, the whole problem with this is, i think, goes back to the 41 votes to repeal obama care. the republicans have had a recession with repeeling it, or at least an element within the republican party. we're now...
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Jan 14, 2013
01/13
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the debt ceiling or exercise the responsibility that they have kept for themselves and raise the debt ceiling because this is about paying your bills. everybody -- everybody here understands this. i mean, this is not a complicated concept. you don't go out to dinner and eat all you want and then leave without paying the check. if you do, you're breaking the law. congress should think about it the same way that the american people do. now, if congress wants to have a debate about maybe we shouldn't go out to dinner next time, maybe we should go to a more modest restaurant, that's fine. that's a debate that we should have. but you don't say in order for me to control my appetites, i'm going to not pay the people who already provided me services. it's not meeting your obligations. you can't do that. that's not a credible way to run this government. we've got to stop lurching from crisis to crisis to crisis when there's this clear path ahead of us that simply requires some discipline, some responsibility, and some compromise. that's where we need to go. that's how this needs to work. majo
the debt ceiling or exercise the responsibility that they have kept for themselves and raise the debt ceiling because this is about paying your bills. everybody -- everybody here understands this. i mean, this is not a complicated concept. you don't go out to dinner and eat all you want and then leave without paying the check. if you do, you're breaking the law. congress should think about it the same way that the american people do. now, if congress wants to have a debate about maybe we...
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Oct 7, 2013
10/13
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the debt ceiling, that the longer you raise the debt ceiling or, the better, and we will -- the debt ceiling for, the better, and we will support a movement to raise the debt ceiling for year. that would certainly be viewed here is something we did support. but we don't get to make those determinations. what our position has always been was not raise it for a certain amount of time. it has been raise the debt ceiling without drama and delay. , ourver the duration position will not change, which is raise it so that the united states can continue to pay its bills and continue to ensure that the world knows we are good to our word and we fulfill our obligations, and when it comes up again, our position will still be, we will not negotiate over congress's responsibility is to pay the bills that congress racked up. so, i think a way to view this is really around the issue of certainty. constructive is past experience in our recent task here to demonstrate how this works. in 2011, republicans and the firstecided for time in our history to threaten default if they did not get what they want
the debt ceiling, that the longer you raise the debt ceiling or, the better, and we will -- the debt ceiling for, the better, and we will support a movement to raise the debt ceiling for year. that would certainly be viewed here is something we did support. but we don't get to make those determinations. what our position has always been was not raise it for a certain amount of time. it has been raise the debt ceiling without drama and delay. , ourver the duration position will not change, which...
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Oct 6, 2013
10/13
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we have to raise the debt ceiling in two weeks or for the first time our country goes into default. >> this week both you and the president seem to be trying to panic the markets about raising the debt ceiling and the government shut down saying they should be more concerned. here is the president. >> this time is different. i think they should be concerned. when you have a situation in which the faction is willing to default on u.s. government obligations, then we are in trouble. >> so far the markets are shrugging it off. nasdaq was up more than half a point. aren't your efforts failing to try to use the markets? >> chris, it's my job to make sure that we strengthen the economy and i spend every day trying to do that. that's why it's so important that congress can pay it's bills. there is no dwhae if we were to have the unthink about happen and the united states to default, it could cause series problems. why would anyone want to do that to the american economy? this is not a new issue. i'm going to quote to you something president reagan said to the country in 1983. the full conseq
we have to raise the debt ceiling in two weeks or for the first time our country goes into default. >> this week both you and the president seem to be trying to panic the markets about raising the debt ceiling and the government shut down saying they should be more concerned. here is the president. >> this time is different. i think they should be concerned. when you have a situation in which the faction is willing to default on u.s. government obligations, then we are in trouble....
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Jan 3, 2013
01/13
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the debt ceiling should be raised period. we have to pay our bills. and eliot you know the president under the constitution, i believe it's the 14th amendment has the authority to raise the debt ceiling any way. this should not be on the table. we should go on and the wednesday andrepublicans and democrats should come together and raise the debt ceiling. >> eliot: you're right it should not be but i fear it will about because last year where we had a similar situation where one could acknowledge as fair compromise, nonetheless shortly thereafter john boehner did what i think he's going to do in the next two months which is to say now you got a debt ceiling you got to raise. you're not going to let the nation default therefore you will concede to us all the cuts that we withstood in this negotiation, now he's going to have us in a toughing negotiating posture. while you're right it shouldn't be an issue but i'm afraid it will be. maybe we should have waited a few more days and let the republicans take the heat for going over the cliff and say you now g
the debt ceiling should be raised period. we have to pay our bills. and eliot you know the president under the constitution, i believe it's the 14th amendment has the authority to raise the debt ceiling any way. this should not be on the table. we should go on and the wednesday andrepublicans and democrats should come together and raise the debt ceiling. >> eliot: you're right it should not be but i fear it will about because last year where we had a similar situation where one could...
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the debt ceiling. the first vote could come as early as friday. in washington, susan mcginnis, wjz eyewitness news. >> some republicans said they would support a bill to raise the debt ceiling without attachments but senate democrats may not have the 60 votes needed to block a filibuster. >>> the supreme court will hear arguments today to roll back lijts on political contributions. it's to limit the cap on what individuals can give in one election cycle. currently an individual can donate a max of $48,600 to a candidate and $74,600 to packs and parties. supporters say the current law limits free speech while the government argues the overall limit helps prevent political corruption. >>> in baltimore city homicide detectives are investigating a body floating near harbor east. "the baltimore sun" is reporting it was spotted after 10:00 this morning near the docks along lancaster street close to where it intersects with south central avenue. the water there is largely separated from the inner harbor by pe
the debt ceiling. the first vote could come as early as friday. in washington, susan mcginnis, wjz eyewitness news. >> some republicans said they would support a bill to raise the debt ceiling without attachments but senate democrats may not have the 60 votes needed to block a filibuster. >>> the supreme court will hear arguments today to roll back lijts on political contributions. it's to limit the cap on what individuals can give in one election cycle. currently an individual...
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Oct 10, 2013
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the president has said that he wants a clean debt ceiling raise. so we think that speaker boehner is trying to sell members of his caucus on the debt ceiling, and not opening the government until something is added to it, by the affordable care act or other budgetary measures. >> and randall, it appears that the affordable care act, all of that may not be a thing of the pastas the news conference is being set up. >> we're hearing the hardliners talking about at least needing to amend the affordable care act, but not so much in terms of tying it to the reopening of government or the debt ceiling. so right now, what we're doing this morning, what we expect speak iser boehner to do, republicans are ready to approve a short-term raising of the debt ceiling, to the end of september. and president obama opened that window the other day, turning from the democrats who wanted a long-term debt ceiling deal. and president obama said if we can just get through the next few weeks and continue negotiation was republicans on some of the fiscal issues that have b
the president has said that he wants a clean debt ceiling raise. so we think that speaker boehner is trying to sell members of his caucus on the debt ceiling, and not opening the government until something is added to it, by the affordable care act or other budgetary measures. >> and randall, it appears that the affordable care act, all of that may not be a thing of the pastas the news conference is being set up. >> we're hearing the hardliners talking about at least needing to...
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Oct 10, 2013
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increasing, it is not necessary to raise the debt ceiling. but only if the debt is not increasing. that's why we didn't have to raise the debt ceiling from 1997 to 2002. we have period like that. this isn't one of them. joining me now ezra klein and richard wolf. ezra, you "washington post" guys are very, very, very wealthy. i understand that. so i know. >> incredible. >> you are all fearing what the debt ceiling is going to do to your personal wealth. because even wizard of high finance like you cannot figure out a way to protect all of your wealth from what will happen if they don't raise the debt ceiling, right? >> that's why i bought a skrooge mcduck -- >> if you can't figure a we to hide from the impact of the crash that will happen itch the debt ceiling isn't raised, the koch brothers can't figure out a way either. they have too much money out there in the world. for me, my hope resides in the koch brothers. the koch brothers are going to say to these guys, do you have any idea how many billions we could lose next week if you clowns kee
increasing, it is not necessary to raise the debt ceiling. but only if the debt is not increasing. that's why we didn't have to raise the debt ceiling from 1997 to 2002. we have period like that. this isn't one of them. joining me now ezra klein and richard wolf. ezra, you "washington post" guys are very, very, very wealthy. i understand that. so i know. >> incredible. >> you are all fearing what the debt ceiling is going to do to your personal wealth. because even wizard...
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Oct 6, 2013
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congress must raise the debt ceiling in less than two weeks, or for the first time in our history, the country goes into default. joining me now, the secretary of the treasury, jack lew. welcome back to "fox news sunday." >> good to be with you. >> this week both you and the president seemed to be trying to panic the markets about both raising the debt ceiling and the government shutdown, saying that they should be more concerned. here's the president. >> i think this time's different. i think they should be concerned. when you have a situation in which a faction is willing potentially to default on u.s. government obligations, then we are in trouble. >> but so far the markets are shrugging it off. the dow jones dropped just 1.2% this week. nasdaq was actually up more than 0.5%. aren't your efforts failing to try to use the markets to put pressure on republicans to cave? >> you know, chris, it's my job to try to make sure we strengthen the economy, and i spend every day trying to do that. that's why it's so important for congress to act, to open up the government to make sure we can pa
congress must raise the debt ceiling in less than two weeks, or for the first time in our history, the country goes into default. joining me now, the secretary of the treasury, jack lew. welcome back to "fox news sunday." >> good to be with you. >> this week both you and the president seemed to be trying to panic the markets about both raising the debt ceiling and the government shutdown, saying that they should be more concerned. here's the president. >> i think...
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Oct 10, 2013
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i'm talking about raising the debt ceiling, not the government shutdown. the debt ceiling is what i'm talking about. all governments spend more than they take in. this one in particular has to borrow, and they do that by printing money and selling debt to countries around the world. now the problem is there are some politicians who say it really doesn't matter if the debt ceiling isn't raised because the government is still bringing in money anyway through our tax -- >> if they pick and choose. >> if they pick and choose, basically, then things will be fine. jack lew's job, treasury secretary is to go in and say this cannot happen. after next thursday i will have $30 billion in the bank and that's all. and that's not enough. the last 224 years no congress has ever failed to raise the debt ceiling, and then he quoted ronald reagan by saying, even though the u.s.'s credit rating was downgraded two years ago, even with that, losing the aaa rating, the full faith and credit of the united states is still even today one of its greatest aspects. take a listen to
i'm talking about raising the debt ceiling, not the government shutdown. the debt ceiling is what i'm talking about. all governments spend more than they take in. this one in particular has to borrow, and they do that by printing money and selling debt to countries around the world. now the problem is there are some politicians who say it really doesn't matter if the debt ceiling isn't raised because the government is still bringing in money anyway through our tax -- >> if they pick and...
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Oct 8, 2013
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if congress refuses to raise the debt ceiling. america would not be able to meet our financial obligations for the first time in 225 years. and because it ais called raising the debt ceiling americans think it is raising our debt. it is not. it does not add a dime to our debt. it says you paid for what congress has authorized america to purchase. whether that is the greatest military in the world or veteran's benefits, whatever it is, what this does is make sure that we can pay those bits. now the last time that the tea party republicans flirted with the idea of default, two years ago, the market plunged, america's credit rating was downgraded for the first time and i decision to go through with it and permit default according to many cea's would b insane, catastrophic, chaos, and warren buffet likened it to a nuclear bomb. it would disrupt markets and undermine the world market and it might permanently increase our borrowing concepts which would mean it would be more expensive to add for deficits and debt. there is nothing respon
if congress refuses to raise the debt ceiling. america would not be able to meet our financial obligations for the first time in 225 years. and because it ais called raising the debt ceiling americans think it is raising our debt. it is not. it does not add a dime to our debt. it says you paid for what congress has authorized america to purchase. whether that is the greatest military in the world or veteran's benefits, whatever it is, what this does is make sure that we can pay those bits. now...
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Oct 4, 2013
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>> when we get to the debt ceiling i think we cannot raise the debt ceiling without significant structural reforms addressing the out of control spend ing problems. in my view we ought to tackle one thing at a time. right now the federal government is partly shut down because harry reid and barack obama have forced a shutdown. >> let me tell you. i really think it is terrible we came up to september 30 and had this crisis. >> absolutely. >> there is a five-week vacation in august. everyone knew september 30 would roll b around. the same feeling was hitting the debt ceiling of october 17. i don't want to do one thing at a time. we do it in a crisis mode. why not think about what we'll do? i'm curious what your plan. the last minute stuff isn't helpful to the american people. >> you're right but the democrats want government by crisis. the house passed a bill to open every park, every memorial and harry reid and the democrats objected. why? because they -- you know, they had been sent shutting away the world war ii memorial and sending away world war ii vets because they want crisis because
>> when we get to the debt ceiling i think we cannot raise the debt ceiling without significant structural reforms addressing the out of control spend ing problems. in my view we ought to tackle one thing at a time. right now the federal government is partly shut down because harry reid and barack obama have forced a shutdown. >> let me tell you. i really think it is terrible we came up to september 30 and had this crisis. >> absolutely. >> there is a five-week vacation...
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Oct 9, 2013
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debt ceiling. but he may have provide aid small opening to get ideal done. new focus on safety standards in bangladesh after a fire kills 10 people at a crowded garment factory. and just weeks after swimming from cuba to florida, diana identify ahead takenyadtakes ong challenge to benefits the victims of hurricane sandy. ♪ ♪ >> welcome to al jazerra america, i am stephanie sy. it is considered one of the most influential jobs in the world. on wednesday, president obama is expecting to no, ma'am made januarjanet yellen to prelace bn bernanke as head of the federal reserve. yellen is taking over at a pivotal time for the economy mad the banking industry. kimberly reports. >> reporter: running the central banking system in the united states is one of the most powerful jobs in the world. and the person in charge can directly affect the wallets of every american and the global economy. >> good afternoon. >> reporter: the fed chief is, s the chair is sometimes called sets the price of borrowing money
debt ceiling. but he may have provide aid small opening to get ideal done. new focus on safety standards in bangladesh after a fire kills 10 people at a crowded garment factory. and just weeks after swimming from cuba to florida, diana identify ahead takenyadtakes ong challenge to benefits the victims of hurricane sandy. ♪ ♪ >> welcome to al jazerra america, i am stephanie sy. it is considered one of the most influential jobs in the world. on wednesday, president obama is expecting to...
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Oct 10, 2013
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they are offering to raise the debt ceiling on a short-term basis. a six-week boost of the debt ceiling. but it doesn't include with the government reopening or deal with the government reopening at all. john boehner told reporters that has they take this proposal to president obama nothing is on the table, but nothing is off of the table either. >> it's time for leadership, and time for this conversation to begin, and i would hope that the president would look at this as an opportunity and good faith effort on our part to move halfway. >> the house republican plan would forbid the treasury department from taking what is called extraordinary measures. when they hit the ceiling there are extrordanaire measures that can be taken to ensure bills are paid. so putting that off of the table will be unpalatable to the white house, and we have some other concerns, but we may see it hit the house floor as soon as today, dell? >> libby how realistic is this deal? >> the white house has said they really want to see the federal government reopened and that has t
they are offering to raise the debt ceiling on a short-term basis. a six-week boost of the debt ceiling. but it doesn't include with the government reopening or deal with the government reopening at all. john boehner told reporters that has they take this proposal to president obama nothing is on the table, but nothing is off of the table either. >> it's time for leadership, and time for this conversation to begin, and i would hope that the president would look at this as an opportunity...
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Jan 15, 2013
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not raising the debt ceiling. then this morning former house speaker newt gingrich weighed in saying the gop congress is coming out a loser. >> it's a threat they can't sustain. no one is going to default. no one is going to allow the united states to not pay its bills. no one is going to accept the economic costs. it rallies the entire business community to the president's side. i don't think we should pick fights where we are in a position where we can't in fact in the end enforce our will. we have no evident that barack obama is going to compromise. >> sir, you voted for the deal, but you have also said you wouldn't vote to raise the debt ceiling. are you still firm on that? congressman yoho, can you hear me? >> yeah, go ahead. >> i was saying, yeah, you have said that you will not vote to raise the debt ceiling, however you did vote for the fiscal cliff deal. do you still stand firm on the debt ceiling position? >> we, no, sir, i didn't vote for the fiscal cliff deal. i wasn't sworn in yet. but it's like we've
not raising the debt ceiling. then this morning former house speaker newt gingrich weighed in saying the gop congress is coming out a loser. >> it's a threat they can't sustain. no one is going to default. no one is going to allow the united states to not pay its bills. no one is going to accept the economic costs. it rallies the entire business community to the president's side. i don't think we should pick fights where we are in a position where we can't in fact in the end enforce our...
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and because it's called raising the debt ceiling, i think a lot of americans think it's raising our debt. it is not raising our debt. it does not add a dime to our debt. it simply says you pay for what congress has already authorized america to purchase. whether that's the greatest military in the world or veterans' benefits or social security. whatever it is that congress has already authorized, what this does is make sure that we can pay those bills. now, the last time that the tea party republicans flirted with the idea of default two years ago markets plunged, business and consumer confidence plunged, america's credit rating was downgraded for the first time, and a decision to actuall through with it, to actually permit default according to many ceos and the congress would be, and i'm quoting here, insane, catastrophic, chaos. these are some of the more polite words. warren buffett likened default to a nuclear bomb, a weapon too horrible to use. it would disrupt markets. it would undermine the world's confidence in america as the bedrock of the global economy. and it might permanentl
and because it's called raising the debt ceiling, i think a lot of americans think it's raising our debt. it is not raising our debt. it does not add a dime to our debt. it simply says you pay for what congress has already authorized america to purchase. whether that's the greatest military in the world or veterans' benefits or social security. whatever it is that congress has already authorized, what this does is make sure that we can pay those bills. now, the last time that the tea party...
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nation's debt ceiling, is there another way to either raise the debt ceiling or keep paying the nation's bills? back in 2011, the former president bill clinton suggested the 14th amendment to the constitution potentially could be used to avoid a government default and here is why. part of the amendment says this. i'm quoting. the public debt of the united states shall not be questioned. back in 2011, the white house rejected the idea of using that 14th amendment to take action on its own, but this time, it doesn't appear -- maybe not completely to be ruling it out, although some officials say the president has no intention of doing so. some members of the senate, including the senate finance committee chairman, max balkas sa needs to be taken into koorgs. jeffrey toobin, what do you say is in the 14th amendment could it in an emergency be used by the president to zi go aheraise financial obligations without a formal vote in the senate or the house? >> wolf, this is one of the paradoxes of the constitution. article one of the constitution very clearly says it's up to congress to borrow mo
nation's debt ceiling, is there another way to either raise the debt ceiling or keep paying the nation's bills? back in 2011, the former president bill clinton suggested the 14th amendment to the constitution potentially could be used to avoid a government default and here is why. part of the amendment says this. i'm quoting. the public debt of the united states shall not be questioned. back in 2011, the white house rejected the idea of using that 14th amendment to take action on its own, but...
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it's a good thing that they would raise the debt ceiling. and i want to applaud them for agreeing to do that. but i don't think the debt ceiling should be raised without coupling it with a similar bill that would open up the government so employees could go back to work. >> and finally, congressman jim moran of virginia here with us tonight. finally, would you vote if they open up the government in the shutdown, would you go along with the six-week extension of the debt limit? >> yes, i would. yeah. i don't want to do that. i think it should be at least a year. >> okay. >> but, you know, you have to compromise. let's just at least keep moving forward. if we stop in our tracks, you know, there is going to be chaos. and we can't allow that to happen. just too many people that would be hurt by a debt ceiling default. >> direct question, direct answer. thanks, congressman. i appreciate it so much. jim moran with us tonight on "the ed show." >>> up next, cattle prod? we'll explain how a perfect storm of politics and nature are making the breadbas
it's a good thing that they would raise the debt ceiling. and i want to applaud them for agreeing to do that. but i don't think the debt ceiling should be raised without coupling it with a similar bill that would open up the government so employees could go back to work. >> and finally, congressman jim moran of virginia here with us tonight. finally, would you vote if they open up the government in the shutdown, would you go along with the six-week extension of the debt limit? >>...
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Oct 2, 2013
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ceiling raise? because it seems to me that a week from now if you're passing something to get us out of the shutdown and turning around and finding yourselves staring down the barrel of another fight of the debt ceiling, that doesn't do anyone any good. >> let me say two things, chris. one, the habit that republicans, especially in the house have of, you know, governing by crisis and consecutive crisis and habitual crisis is bad for the economy and bad for the american people and we oppose it. secondly, you're right to raise the debt ceiling because the concern that we have is that as bad as shutting the government down is with the hundreds of thousands of hard working americans who couldn't go to work today and aren't getting paid and all the other negative impacts of shutdown, default is infinitely worse. it would be catastrophic, as the imf said today. the mere flirtation with default as we saw in 2011 by these same house republicans would have truly damaging effects on our economy and on the mid
ceiling raise? because it seems to me that a week from now if you're passing something to get us out of the shutdown and turning around and finding yourselves staring down the barrel of another fight of the debt ceiling, that doesn't do anyone any good. >> let me say two things, chris. one, the habit that republicans, especially in the house have of, you know, governing by crisis and consecutive crisis and habitual crisis is bad for the economy and bad for the american people and we...
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i'm not going to raise the debt ceiling. then you went on to say i think personally it would bring stability to the world markets if the debt ceiling were not raised. i want you to first of all tell us if those quotes were accurate and what you meant. >> yeah. those quotes are accurate. i appreciate you having me on, wolf. not raising the debt ceiling does not automatically trigger a default. what i meant by that article there was, you know, i feel like groundhog day, it's kind of like the debate between jimmy carter and ronald reagan. there you go again. we are doing the same things we've done the last 15 years. we have raised the debt ceiling 14 times since 2001 and if that was the answer, we wouldn't be here today. what i meant by that statement was this. if we as a nation, as legislators, address this condition of overspending and if we address that and we say to the rest of the world, to our financial markets, to the rest of the world market, say listen, we've got a spending problem, we realize it, we get it, we're goin
i'm not going to raise the debt ceiling. then you went on to say i think personally it would bring stability to the world markets if the debt ceiling were not raised. i want you to first of all tell us if those quotes were accurate and what you meant. >> yeah. those quotes are accurate. i appreciate you having me on, wolf. not raising the debt ceiling does not automatically trigger a default. what i meant by that article there was, you know, i feel like groundhog day, it's kind of like...
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Oct 15, 2013
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. >> we raised the debt ceiling and we were downgraded after we raised the debt ceiling, not before. so i would argue if you demonstrate fiscal responsibility you're going to get a better credit rating. they lowered our credit rating, excuse me. i would argue that you get a better credit rating if you show fiscal responsibility than if you do not. >> and do you get that by denying staffers their health care? that what you get? you get fiscal responsibility. >> that wasn't my thought at the beginning. i would say it's not. it is a bitter pill. >> so are you going to vote no on the deal that's sitting before the house right now? >> i want to see the language. but right now i'm leaning no. and i don't want to pull the rug out from under other people. it seems to be up in the air. it's a jump ball right now. >> not having seen the language and noticing that they're continuing to rewrite it, doesn't it strike you as premature for speaker former speaker pelosi in effect to say not a single democrat will even consider voting for this? do you think the minds are that closed? or do you think
. >> we raised the debt ceiling and we were downgraded after we raised the debt ceiling, not before. so i would argue if you demonstrate fiscal responsibility you're going to get a better credit rating. they lowered our credit rating, excuse me. i would argue that you get a better credit rating if you show fiscal responsibility than if you do not. >> and do you get that by denying staffers their health care? that what you get? you get fiscal responsibility. >> that wasn't my...
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your annual budget and opportunities to raise the debt ceiling. what is important is you take the issues, try to get some concessions are you do not have to raise the debt ceiling the next time. this is your only opportunity to exercise controls on spending. but the system counts on the people coming together. it has gotten to the point now where it is out of hand. guest: you get to the point where you get the best deal you can. both sides do not get what they want, but they get something. i guess this is going to happen october 17. sure scares tuple. guest: it's not just brinkmanship, but america's reputation overseas. host: caller, you are on the air. caller: hello, everyone. i think we see -- host: all right, let's move on to nicole in jackson city. caller: i was calling to talk but the government shutdown. i have a niece. she is in college. her child was in head start. the thing with parents -- they have to overcome and yesterday in the grocery store, there was a woman in there behind her. they had 9 children. they got the groceries. they coul
your annual budget and opportunities to raise the debt ceiling. what is important is you take the issues, try to get some concessions are you do not have to raise the debt ceiling the next time. this is your only opportunity to exercise controls on spending. but the system counts on the people coming together. it has gotten to the point now where it is out of hand. guest: you get to the point where you get the best deal you can. both sides do not get what they want, but they get something. i...
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debt ceiling? you say no negotiations whatsoever? >> no, wolf, we've said this, we're happy to discuss spending cuts. we're happy to discuss shutting down some tax loopholes like the ones for big oil companies. in fact, just last night i asked for the eighth time to have a vote in the house on a proposal to replace the sequester with a proposal that would get the same amount of deficit reduction, even more deficit reduction, without the deep, immediate cuts caused by the sequester, which we know are dragging down the economy. republicans wouldn't allow us a vote on that proposal. so, let's be really clear the president is more than happy to negotiate with republicans on budget issues, where to cut, whether to cut tax loopholes. where he will not negotiate is whether or not the united states pays its bills on time, whether or not we live up to the full faith and credit of the united states. and we all know that if the united states ever did default, it would send our economy into a big downward spir
debt ceiling? you say no negotiations whatsoever? >> no, wolf, we've said this, we're happy to discuss spending cuts. we're happy to discuss shutting down some tax loopholes like the ones for big oil companies. in fact, just last night i asked for the eighth time to have a vote in the house on a proposal to replace the sequester with a proposal that would get the same amount of deficit reduction, even more deficit reduction, without the deep, immediate cuts caused by the sequester, which...
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get the debt ceiling raised. never let the government shut down. >> he is saying "i didn't come here to shut the government down and not raise the debt ceiling and have us default. then don't. john boehner, man up. explain the call. not the way we govern. sit down and let the grownups raise the debt ceiling the way they have done uncontroversially. over and over again. >> i'm insisting this is about weakening the presidency. the republicans created the modern imperial presidency under richard nixon. they see ruining the presidency is increasingly difficult. demographics, hispanic vote. positions on immigration, all sorts of things. women's issues, abortion, so forth. they have just decided it is not in republican party's interest to have a strong presidency. we are going to make the presidency as difficult as the it can be? >> yeah, look. this is a sad time to follow politics and also an interesting time. and the thesis you put forth. they lost the popular vote in five of six elections for president. they know th
get the debt ceiling raised. never let the government shut down. >> he is saying "i didn't come here to shut the government down and not raise the debt ceiling and have us default. then don't. john boehner, man up. explain the call. not the way we govern. sit down and let the grownups raise the debt ceiling the way they have done uncontroversially. over and over again. >> i'm insisting this is about weakening the presidency. the republicans created the modern imperial...
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Oct 12, 2013
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once the debt ceiling is raised in the shutdown is over, there's a lot we can accomplish. we have created 7.5 million new jobs. let's create more. we cut our deficit in half. now let's do it in a smarter, balanced way that lets us afford to invest in the things we need to grow. there is a lot we can agree on. on ising we have to agree that there's no good reason anyone should keep suffering through the shut down. i met with some really innovative small business owners on friday who of already lost contracts, customers, and put hiring on hold. because the pain of this has shutdown to their bottom lines. citizensting the very that our government exists to serve. a growing number of republicans say it should end now. it would be wise to just kick the debt ceiling can down the road. sterling america's credit rating would not cause global markets to become higher wire -- haywire. it would become more expensive for everyone to borrow money. students paying for college, newlyweds buying a home. it would amount to a new tax, a republican default tax on every family and business in
once the debt ceiling is raised in the shutdown is over, there's a lot we can accomplish. we have created 7.5 million new jobs. let's create more. we cut our deficit in half. now let's do it in a smarter, balanced way that lets us afford to invest in the things we need to grow. there is a lot we can agree on. on ising we have to agree that there's no good reason anyone should keep suffering through the shut down. i met with some really innovative small business owners on friday who of already...
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the debt ceiling. i think the markets are up over 200 points so far today, which is encouraging to the markets. there was blinking on both sides going on, assuming the short-term deal is accepted by the white house. on the republican side, they've walked away, in terms of raising the nation's debt ceiling for many of the earlier demands about specific changes to obama care, anything along those lines, as far as the debt ceiling. the democratic side and the president's side if he accepts this, if harry reid accepts it, they have to do in order to continue the negotiations over reopening the government and ending the government shutdown, they have to do what dana told us about, this joint house senate conference committee appoint conferrees to talk about long-term debt and the other issues that they have to talk about, as far as a budget is concerned. harry reid had been reluctant to do it, though the democrats had been pushing it for months to have a house senate budget committee, republicans reluctant
the debt ceiling. i think the markets are up over 200 points so far today, which is encouraging to the markets. there was blinking on both sides going on, assuming the short-term deal is accepted by the white house. on the republican side, they've walked away, in terms of raising the nation's debt ceiling for many of the earlier demands about specific changes to obama care, anything along those lines, as far as the debt ceiling. the democratic side and the president's side if he accepts this,...
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repeatedly to raise the debt ceiling when george w. was president. are they hypocrites? you betchya. >>> if they wanted to cut spending, why don't they talk about cutting defense? cutting the pentagon? that's 30% of the federal budget. we are winding down two wars. but do you hear them talking about cutting defense? no, you don't. they just want to cut the social safety net. >> that's what it's all about. joan walsh and cynthia tucker, thanks for your time to be the. >> thanks, reverend. good to be here. >> ahead, republicans are already threatening to hold the economy hostage to get what they want. are the democrats ready to stand strong? this man is. he's back. the king of political haymakers reelected to congress, back in the house and ready to defend democratic values. he joins us live next. >>> and as the gop brand free falls, chris christie rises a day after his blistering attack on john boehner, we have news on the governor's next move. stay tuned. >>> plus, white house photos revealed. behind-the-scenes presidential shots you d
repeatedly to raise the debt ceiling when george w. was president. are they hypocrites? you betchya. >>> if they wanted to cut spending, why don't they talk about cutting defense? cutting the pentagon? that's 30% of the federal budget. we are winding down two wars. but do you hear them talking about cutting defense? no, you don't. they just want to cut the social safety net. >> that's what it's all about. joan walsh and cynthia tucker, thanks for your time to be the. >>...
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we have raised the debt ceiling 70-plus times. there has always been that sense of we're not going to vote to raise the other guy's debt ceiling, but there was always the understanding that we would provide the votes in the final analysis. the president's party did that. right now, what you have is a situation where the republican party is reduced to its lowest andi in the history of "the wall street journal" poll. the only thing that is worse is john boehner. 18% favorable. this is not a formidable partner. >> over the weekend, "politico" spoke to many advisers and said house republicans and party leaders appear willing to shut down government. might need to do that four- member management purposes so that they can have an end game and show their constituents they are fighting. get it out of the system? this is not a gastrointestinal problem, this is the government. >> i would suggest therapy and do not shed down the government. i would give it to them for free. the republicans have had a pretty unhappy experience with brinksmans
we have raised the debt ceiling 70-plus times. there has always been that sense of we're not going to vote to raise the other guy's debt ceiling, but there was always the understanding that we would provide the votes in the final analysis. the president's party did that. right now, what you have is a situation where the republican party is reduced to its lowest andi in the history of "the wall street journal" poll. the only thing that is worse is john boehner. 18% favorable. this is...
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Oct 13, 2013
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your annual budget and opportunities to raise the debt ceiling. what is important is you take the issues, try to get some concessions are you do not have to raise the debt ceiling the next time. this is your only opportunity to exercise controls on spending. but the system counts on the people coming together. it has gotten to the point now where it is out of hand. guest: you get to the point where you get the best deal you can. both sides do not get what they want, but they get something. i guess this is going to happen october 17. sure scares tuple. guest: it's not just brinkmanship, but america's reputation overseas. host: caller, you are on the air. caller: hello, everyone. i think we see -- host: all right, let's move on to nicole in jackson city. caller: i was calling to talk but the government shutdown. i have a niece. she is in college. her child was in head start. the thing with parents -- they have to overcome and yesterday in the grocery store, there was a woman in there behind her. they had 9 children. they got the groceries. they coul
your annual budget and opportunities to raise the debt ceiling. what is important is you take the issues, try to get some concessions are you do not have to raise the debt ceiling the next time. this is your only opportunity to exercise controls on spending. but the system counts on the people coming together. it has gotten to the point now where it is out of hand. guest: you get to the point where you get the best deal you can. both sides do not get what they want, but they get something. i...